The federal government’s Social Finance Fund encourages innovative approaches to complex social challenges by giving charitable, non-profit and social purpose organizations new financing to implement their ideas for driving positive social change.
The Social Finance Investment Readiness Exploration Session will provide information on how social purpose organizations (SPOs) can benefit from the new Social Finance Fund (SFF) and Investment Readiness Program that provides millions in dollars to access capital. Hosted by NORDIK Institute, United Way, and Innoweave, this free session will take place on February 24th at Grand Gardens North, 1-3pm.
The Exploration Session will provide information on two funding opportunities: a $2 billion Social Finance Fund, a repayable loan to access social finance; and a $50 million non-repayable Investment Readiness Program, a grant to help SPOs at the beginning of their investment journey build capacity for investment readiness. Both funding streams are designed to strengthen organizations’ capacity to participate in the social finance market and enhance their social, environmental, and/or cultural impact. The Exploration session will also cover important topics such as how to use social finance in your organization, repaying social finance investments to investors, and assessing ideas for an SPO.
“NORDIK Institute is excited to offer this workshop as part of our ongoing support to non-profits, co-operatives, hybrid social enterprises, and mission focused for-profits for their important contribution to local and regional community economic and social development,” states Dr. Jude Ortiz, Research Coordinator at NORDIK Institute.
“United Way is very pleased to offer this opportunity that aligns with our commitment to improving lives through poverty reduction. This work is very complex and requires the work of multiple organizations to be successful. This event enables local charities and non-profits to access much needed capital to fund this work,” says Gary Vipond, Chief Executive Officer, United Way.
To register now for this free event, please visit at https://cutt.ly/social-finance-ssm
The Investment Readiness Program is a 2-year $50 million pilot program designed to help advance Social Innovation and Social Finance (SI/SF) in Canada by providing learning opportunities to better support and mobilize the social finance sector.
Innoweave is an initiative of McConnell Foundation, providing social innovation coaching to established charities and non-profits across Canada to help them sharpen their focus and improve performance.
NORDIK Institute is Algoma University’s community based research organization whose goal is to build Northern Ontario’s capacity to conduct research that contributes to social, economic and environmental justice in rural, Indigenous and northern communities and that provides evidence for informed policy and decision making.
United Way Sault Ste. Marie & Algoma District addresses poverty and the well-being of all our citizens by building barrier-free, diverse, healthy, inclusive, accepting, poverty-free communities where all citizens have the opportunity to reach their full potential.